In a briefing, Noli Hernandez, Megaworld senior vice president for marketing, said the real estate developer is spending P65 billion over a 10-year period for the Uptown Bonifacio township, which was inspired by the world’s best cosmopolitan cities like Paris, London, New York, Milan and Tokyo.

Megaworld expects sales to hit P10 billion from the first two residential projects, which has enjoyed brisk take up. The first tower, One Uptown Residence, is completely sold out and the all-suite Uptown Ritz is 70 percent sold.

The company will launch the next residential tower in April or May, Hernandez said. The 45-storey One Uptown Residence is set for completion in July 2016, while the 45-storey Uptown Ritz will be completed in June 2017.

By 2016, Uptown Place Mall will begin commercial operations, featuring high-end retail shops. The five-storey mall will have a leasable area of more than 36,689 square meters, and would include a supermarket and food court. It will have five state-of-the-art cinemas and 2,065 square meter roof garden on the fourth level.

Aside from retail attractions, Uptown Bonifacio will house a five-tower corporate block, including the 25-storey Alliance Global tower, the future headquarters of companies like Megaworld that are controlled by taipan Andrew Tan. The buildings, ranging from 15-30 storeys high, will house multinational and business process outsourcing (BPO) companies.

The Uptown Bonifacio township will feature up to 18 towers, offering a total potential development of 500,000 square meters of residential space, 400,000 square meters of office space and 90,000 square meters of retail space.

Megaworld is the biggest landlord in the Bonifacio property with four township projects in the area, said Hernandez. These include the 50-hectare McKinley Hill, 34.5-hectare McKinley West, the five-hectare Forbes Town and the 15-hectare Uptown Bonifacio.

Last edited by Jan on Sun Aug 18, 2013 12:05 am; edited 1 time in total